United Future Party: "Government's Real Estate 'Statistical Manipulation'... Who Would Believe the Numbers?"

[Image source=Yonhap News]

[Asia Economy Reporter Lee Ji-eun] The United Future Party criticized the government's change in real estate statistics methodology as "statistical manipulation."

Yoon Hee-seok, deputy spokesperson of the United Future Party, said in a statement on the 20th, "While it is understandable that there is a desire for the jeonse prices to appear slightly lower, who would trust the numbers if the statistical method is changed during a policy transition?"

This comment came after Hong Nam-ki, Deputy Prime Minister for Economic Affairs, announced at the '3rd Real Estate Market Inspection Meeting of Related Ministers' the day before that the jeonse market statistics, which previously only reflected new contracts, would be changed to a new method including renewal contracts. He criticized, "Even if the numbers look better, will the actual burden of monthly rent and jeonse on the people decrease?" and added, "This government's misguided love for statistics never ends."

Regarding the government's decision to lower the jeonse-to-monthly rent conversion rate from the current 4% to 2.5%, he pointed out, "It is yet another reckless measure following numerous real estate policies and legal amendments," and said, "This is why voices are already emerging to simply raise the jeonse prices."

He stated, "What is needed now is not price control or pressure but proper supply measures," and added, "The government and the ruling party must face reality and change the direction of real estate policy according to economic principles."

Song Seok-jun, a member of the United Future Party and chairman of the Real Estate Special Committee, also criticized on Facebook that day, saying, "You cannot deceive the public's eyes through statistical distortion," and "If the criteria for compilation change according to convenience and taste at each moment, the reliability will decline, and it will lose its value and meaning as official statistics."

This content was produced with the assistance of AI translation services.